The first accounting and auditing shall be done 18 months after incorporation, and every 12 months afterward.

Profit tax:

which is 16.5% of the profit of the company. You also need to pay the provisional tax. For example, if you have to pay $5,000 tax, in the first year, you actually have to pay $10,000. The provisional tax of the previous year will be subtracted from the tax next year. For example, if you have to pay $8,000 tax on the following year, you have to pay $8,000 + $8,000 - $5,000 (provisional tax of the previous year) = $11,000.

De-registration

If you decide not to continue the business, you need to de-register the company. If the company has conducted business, you also need to do accounting and auditing before the de-registration. If you do not de-register the company and file the Annual Return, the government will impose penalty, and the company will not be de-registered unless all penalty is paid.

If your company does not conduct business, then it does not have to do accounting and auditing, nor does it have to pay the profit tax.